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. meredith whitney and john thain coming up on the second hour of "the closing bell." i'll see you tomorrow. >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to "the closing bell." i'm maria bartiromo on the floor of new york stock exchange. stocks closed lower after a flare up in the eurozone debt crisis. take a look at how we're settling today on this monday afternoon on wall street. dow jones industrial average down 60 points. almost one-half of 1% lower. 14453 after a busy close on friday. nasdaq composite under selling pressure, down 11.5 points. it may be red across the board for major averages. hank smith points out if the cyprus bailout had happened last year, the dow would have likely shed 300 points on the open alone. this proves that the united states is clearly, as he puts it, the best house in a bad neighborhood. is that the right picture to paint? joining me right now along with hank is jason pride, peter schiff of euro pacific capital and our own bob pisani. peter schiff, let me kick it off with you and get your take on what's go
. good to see you, guys. >> hello, maria. >> john, what are you expecting from this market the next couple of weeks headed into earnings season? >> well, right now we're kind of going sideways, doing a little bit of consolidation. obviously the cyprus news didn't help too much. but the fact that we were able to absorb fedex news, as well as oracle and bad print detail last night, and nike, actually helped us out last night. but the fact that we were able to go sideways, we haven't really sold off gives the bull some more hope here. >> i like that you're saying that, because i know fedex caught a lot of people by surprise. the transports breaking down caught a lot of people by surprise. and i'm wondering if that tells us anything about the upcoming first quarter reporting season. david sowerby, are you changing your behavior in any way as a result of what we saw in earnings this week? >> no, i'm not. i think the longer term case for stocks is still very much in tact. and more retail and institutional investors will be rotating into stocks. in the very near term, don't be surprised if
a lot of acquisitions. >> well, i think we're the leaders, john, and we have to continue to innovate. but i think, you know, the affinity that marketers have for adobe, we're such an entrenched part of the content life cycle, and so as they're creating these campaigns, we think that's the on-ramp from all of this digital spend. google's actually a partner, because we allow marketers to spend more money on surge, but there is social, there is display, there is video. and i would say that oracle and ibm come at it more from the point of view of i.t. we focused on the marketer, we believe we have the most comprehensive solution. and, you know, we're clearly in the lead. >> i know we're almost out of time, but i notice that you guys also put out a release saying kevin lynch, the chief technology officer, who came over, i believe, from macro media, quite a while back, is leaving the company. what can you say about that and who's going to lead adobe's technical efforts going forward? >> well, kevin's made many contributions, john, and you know, i'm really grateful for that. he's decided th
to john harwood. he has some breaking news. >> maria, we are not going to have a government shutdown on march 27th when the current government funding bill runs out. the senate has just passed its version of the so-called cr with more than 70 votes in favor. the house plans to pass it tomorrow. and again, it reflects the fact that the fiscal fights that were at fever pitch throughout 2011 and 2012 have now been defused. both sides are working at a much slower pace, less of a crisis atmosphere, maria. >> all right, john, thank you so much. feeling cramped at the back of the plane? wait until you hear what the largest airlines are doing to keep business class flyers flat-out happy. of course, it all comes with a price. stay with us. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. [ female announcer ] what if the next big thing, isn't
. and then you see what happened with fedex, you know, a transport company. >> well, john mendelson, a wonderful thinker on wall street, he was the one who coined the phrase, dr. copper, the metal with a ph.d in economics. and i haven't talked to him in the past 30 years about this, but his contention, which makes great sense, is that copper, as a basic industrial metal, its price is an important indicator of the trend in real business activity. and it seems to me what's happening in china with respect to the buildup of inventories and base metals, including copper, is a telltale sign of consequences, among other things, the suppression of prices, and the manipulation of credit, which in china are carried to extremes. >> and the you look at the chart of copper, you only have to be led to believe that business is deteriorating, it's getting worse, and of course that leade me to the fact that the fed is just going to continue to be there. >> yeah. >> it all comes back to the fed. >> it does, until -- >> it doesn't. >> people rebel against the fed. they rebelled against the fed in the late '70s. do
Search Results 0 to 4 of about 5